7 reasons why you should call your mortgage broker today

With so many changes in today's world of finance, the clear message is DON'T PANIC! Seek advice from a trusted source. Below are some reasons why you should speak to one of the mortgage brokers at Intellichoice over the next months. Remember, we are here to help you find the best home loan solution from the many available options. Let us do the ground work and research for you so that you can still sleep comfortably at night.

1. Getting the 'best deal'

Everyone will be advertising 'the best deal.' But what they may omit to tell you about are the hidden costs, break out fees and other associated issues when changing mortgage lenders. Do not assume that all lenders have passed on the full interest rate reductions. With access to over 35 mortgage lenders on our panel, we will be able to guide you through your decision if you are thinking about your finance options right now. Don't do it on your own – speak to one of our experienced mortgage brokers and we will work through this with you.

2. Switching

You may not even need to change mortgage lenders. Sometimes your current mortgage lender has brought out better products since you have taken out your home loan. If they have introduced a better product, they are not likely to let you know. We, on the other hand, work for you – not the bank. So we will always make suggestions in your best interest, not theirs. It may be as simple as a product switch and we can help you find out whether it is financially beneficial for you to stay with your current loan, or switch to another product. Speak to Intellichoice today about a home loan review.

3. Credit card/debt consolidation

This time of year usually starts us questioning how we can better manage our debt – especially credit card balances that creep up and never seem to get paid. Often consolidating loans can free up substantial cash. It is common for us to save our clients several hundreds of dollars each month just by consolidating a few credit cards and personal loans. Why not add some more cash to that interest rate reduction and really take advantage of getting rid of that built up debt? Call us on 1300 55 10 45 to explore your options in more detail.

4. Top up that loan!

If you need extra cash over the holiday period, sometimes it's as easy as taking some from the equity in your home. We get disappointed when we hear that our clients 'just went to the bank' for that extra $10,000 when we could have helped them ourselves – and usually through more creative options. Once again, even small changes to your finance, like a top up or a small personal loan, can have severe consequences if all avenues are not explored and all changes discussed.

5. Invest

Now is the perfect time in most parts of Australia for first home buyers and investors to get into the property market. Get your home loan pre-approved now before you go property shopping.

6. Escalate your home loan

Don't think that by going to your local bank, it will get done faster or that it will be more beneficial to you. All loans go to a processing unit. Mortgage brokers have access to the banks Business Development Managers (BDMs) who can escalate issues. If it becomes necessary, we make them work harder to ensure your loan gets through. Because we have access to many loan products across many institutions, often we can find alternative solutions for funding that some banks just can't access.

It's not uncommon for brokers to get a home loan through the same bank that has just declined a loan a loan through their local branch. Call Intellichoice first and save time.

7. Getting out of your fixed loan

Unfortunately, some people have locked themselves into 5 year fixed rate loans at relatively high rates. These customers are now faced with hefty exit fees if they want to break those loans to benefit from the lower rates on offer.

If you or any of your friends or family need some guidance as to what to do when arranging a new loan (or breaking free from one), please speak to one of our experienced mortgage brokers, as in many instances, these costly mistakes can be avoided.

With tighter uniform regulation in the broking industry on its way across Australia, think of your broker as being more of a professional in the same way you think of your accountant, financial planner or solicitor. Mortgage brokers build ongoing relationships with their clients and think of your best interests and not those of the bank. If we are your chosen trusted mortgage broker, get us working for you.

It is prudent to keep in touch with your mortgage broker at least annually for a home loan review, but when times are volatile, it is wise to contact us more frequently to discuss your options in this ever changing market. Remember, we are here to help you and are only too happy to answer any questions you may have. Speak to one of our experienced mortgage brokers at Intellichoice today on 1300 55 10 45 about a home loan health check and how we can help you save thousands off your home loan.